Protecting Yourself—Errors and Omissions Insurance: The Must Have Insurance for Every Firm and Individual

April 2007

 

Errors and Omissions Insurance ("E & O") is one of the most important policies that
financial institutions and advisers should obtain. E & O protects the business
organization, its officers, directors, and employees in the event a client asserts a claim as
a result of any mistake or failure to act on the part of the firm or adviser. Errors
insurance covers various faults, including but not limited to inaccuracies, miscalculations,
oversights, trade errors and legal fees. Omissions coverage pertains to any nonfraudulent
failure to act by the firm or individual.

 

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